What is Satoshi?
A ‘satoshi test’ is a method to prove ownership of a wallet.
Why Satoshi Test?
UpVerified has adopted the satoshi test as the only accepted form of proof of coins because it’s a proven strategy to filter sellers that are not ready to engage in closing.
We understand there are risks for the seller to send a small amount of coins to the buyer as the sender’s wallet address is revealed to the buyer, however, UpVerfied makes satoshi verification safe by shielding the seller’s wallet address, so anonymity is preserved.
We encourage buyers to verify proof of coins early in the deal to ensure no time is wasted dealing with a non-serious seller.
How Satoshi Test Works?
UpVerified will establish the seller has control of a wallet by the seller sending a specific amount on coins (usually equavalent to $0.01 USD) to UpVerified’s wallet.